Rithm Capital (NYSE:RITM) Sets New 1-Year High at $11.45

Rithm Capital Corp. (NYSE:RITM) hit a new 52-week high on Monday . The stock traded as high as $11.45 and last traded at $11.39, with a volume of 474257 shares. The stock had previously closed at $11.32.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RITM. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price target on shares of Rithm Capital in a research note on Monday, April 1st. B. Riley boosted their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Wedbush restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Monday, February 26th. Argus lifted their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Jonestrading raised their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $12.05.

Rithm Capital Trading Down 0.0 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $5.47 billion, a PE ratio of 7.54 and a beta of 1.80. The company’s fifty day moving average is $10.97 and its 200-day moving average is $10.59.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a return on equity of 19.38% and a net margin of 19.77%. The firm had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same period in the prior year, the business posted $0.33 EPS. On average, analysts anticipate that Rithm Capital Corp. will post 1.69 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.84%. The ex-dividend date of this dividend was Thursday, March 28th. Rithm Capital’s dividend payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Rithm Capital during the fourth quarter worth $63,896,000. Northern Trust Corp increased its position in Rithm Capital by 69.3% during the 3rd quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock valued at $35,581,000 after buying an additional 1,567,489 shares in the last quarter. MGO One Seven LLC raised its stake in Rithm Capital by 4,525.1% in the fourth quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock valued at $8,208,000 after buying an additional 751,895 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in Rithm Capital by 360.6% in the third quarter. Qube Research & Technologies Ltd now owns 956,788 shares of the real estate investment trust’s stock worth $8,889,000 after acquiring an additional 749,058 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Rithm Capital by 107.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after acquiring an additional 607,413 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Company Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.